1971 Ford Mustang, 351 Cleveland trade for f350

I have a friend with a 1971 Ford Mustang, 351 Cleveland, Auto Transmission, 54,000 original miles.
The trans has lost 3rd gear but he has 6c with the adapters for the car. Brand new BF Goodrich tires, new dual exhaust glasspacks, pipes and hangers, new fuel pump, new dash pad, new heater core, new heater core hoses, carb has new rebuild kit installed, new rotor bug and cap, new Mach 1 spoiler, new paint and clear coat, new battery, new wipers, new brakes, springs and brake lines, new trunk pan, new fuel tank and guage, new carpet, new headliner, new flat back sport mirrors, new dimmer switch, headlight switch, and two new headlights. This is a factory air car, all the trim is on the car, door panels are intact, leather seats.

He wants to trade me for my 97 ford f350 7.3 powerstroke diesel dauly. It has 256k miles.
Iv probably got around 5k in my truck – upgraded turbo/injectors – New trans with trans go shift kit and upgrade torque convertor. I built my own home made stacks – I have a tow package + goose neck / 5th wheel set ups for the truck. I trust my truck to the end of the world and back. I also know the blue book is around 10k as is.
Here is a video of my truck – http://www.youtube.com/watch?v=cPO89HGu-N4
I was wondering if it sounds like a fair trade – I would like to get some peoples opinions. Thanks. Iv heard these cars can fetch a high price.
Here are some pics of the mustang.